The Actuators Market Analysis reveals promising growth, currently valued at USD 56.29 billion in 2022. Projections suggest a robust trajectory, with the market expected to reach USD 111.43 billion by 2030, showcasing an impressive Compound Annual Growth Rate (CAGR) of 8.91% over the forecast period from 2023 to 2030.
Actuators, vital mechanical components facilitating the conversion of energy into motion and controlling machinery, equipment, and systems, play a pivotal role in various industries. Operated by hydraulic and pneumatic forces, these devices can be controlled manually, electrically, or through software, providing linear and rotational motion.
Key Highlights:
Current Valuation: As of 2022, the Actuators Market is valued at USD 56.29 billion, underscoring its indispensable role in diverse industries.
Projected Growth: Projections indicate substantial expansion, with the market anticipated to reach USD 111.43 billion by 2030, reflecting a robust CAGR of 8.91% during the forecast period.
Varied Applications: Actuators find applications in numerous industries, including food and beverage, oil and gas, power generation, metals and mining, chemicals, automotive, and aerospace, showcasing their versatility.
The Actuators Market is poised for significant growth, driven by the increasing demand for motion control solutions across various industries.
Key Players
The major key players are Crane Co., Emerson (Pentair Valves), Flowserve Corporation, General Electric Company, Imi PLC, Kitz Corporation, Metso Oyj (Neles Oyj), Parker-Hannifin Corporation, Rotork PLC, Schlumberger Limited and other players
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KEY MARKET SEGMENTATION
- Basis of Type
Linear Actuator
Rotary Actuator
- Basis of Actuation
Electrical
Pneumatic
Hydraulic
Others
- Basis of Application
Industrial automation
Robotics
Vehicles and Equipment
- Basis of Vertical
Food & Beverages
Oil & Gas
Metals, Mining, and Machinery
Power Generation
Chemicals, Paper, and Plastics
Pharmaceutical & Healthcare
Automotive
Aerospace & Defense
Marine
Electronics & Electrical
Construction
Agriculture
Utilities
Household & Entertainment
Driving Factors
Actuator Technological Advancements.
The Number of Aircraft Carriages Is Increasing.
Global Automotive Industry Continues to Expand.
Opportunities
The installation of pneumatic actuators is a time-consuming task.
Fluid leakage is a possibility, and fire is a possibility.
Erosion caused by fluid leaks is a significant issue.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
Continued...
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